Alcoa Reports Middling 4Q Results; 2017 Prospects Looking Up, but We Remain Bearish Long Term
Alcoa reported mixed fourth-quarter results in its first earnings release after being spun off from the legacy Alcoa business Nov. 1. For 2016, management reported adjusted EBITDA of $1.1 billion, down from a comparable carve-out result of $1.8 billion the prior year. For the full year, Alcoa reported an adjusted net loss of $1.24 per share. Now with more insight regarding pro forma profit generation and cost-cutting objectives, we've increased our near-term profit forecasts and very slightly in...Alcoa is a vertically integrated aluminum company comprised of bauxite mining, alumina refining, aluminum production (smelting, casting, and rolling), and energy generation. Through direct and indirect ownership, the company has 30 operating locations in nine countries around the world, situated primarily in Australia, Brazil, Canada, Iceland, Norway, Spain, and United States.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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